Norges Bank Takes $230.29 Million Position in Unity Software Inc. $U

Norges Bank bought a new position in shares of Unity Software Inc. (NYSE:U) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,213,617 shares of the company’s stock, valued at approximately $230,285,000. Norges Bank owned about 1.22% of Unity Software as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after acquiring an additional 6,734,285 shares in the last quarter. Duquesne Family Office LLC acquired a new position in Unity Software during the 2nd quarter worth $42,932,000. WT Asset Management Ltd acquired a new position in Unity Software during the 4th quarter worth $57,626,000. FengHe Fund Management Pte. Ltd. grew its holdings in Unity Software by 287.0% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock worth $76,503,000 after acquiring an additional 1,284,400 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Unity Software by 37.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after acquiring an additional 1,270,798 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the sale, the chief accounting officer directly owned 370,654 shares in the company, valued at approximately $10,074,375.72. The trade was a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 2,099 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $27.37, for a total transaction of $57,449.63. Following the sale, the chief operating officer owned 727,970 shares in the company, valued at $19,924,538.90. This trade represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 204,526 shares of company stock worth $5,521,274 in the last three months. Insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on U. Bank of America lifted their price target on shares of Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, March 27th. Citigroup decreased their price target on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Wall Street Zen lowered shares of Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Oppenheimer raised shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Tuesday, February 10th. Finally, Barclays lifted their price target on shares of Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Unity Software currently has a consensus rating of “Moderate Buy” and an average price target of $37.71.

Unity Software Trading Down 4.1%

Shares of NYSE:U opened at $30.85 on Wednesday. The company has a market cap of $13.47 billion, a PE ratio of -19.65, a P/E/G ratio of 4.12 and a beta of 2.06. The company’s 50-day moving average price is $24.67 and its 200 day moving average price is $31.29. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.